The Role of Upskilling For Startups 

What is upskilling?

Upskilling in a startup setting means teaching employees new skills (or how to enhance their existing skills). It allows team members to learn more, grow in their current roles, and prepare for new challenges. 

But it’s not just about teaching technical skills like coding or data analysis. It’s also important to learn soft skills, such as leadership, communication, and emotional intelligence.

Startup employees need both types of skills to support your business to the fullest. While technical skills help them do their jobs more effectively, soft skills help them collaborate and build relationships.

For example, a software developer who understands coding but lacks communication skills may struggle in a team environment. And a project manager with strong problem-solving skills can guide teams through challenges. But a lack of coding skills may affect their ability to manage tech-heavy projects.

Giving access to online courses, apps, and training workshops are common way to help employees upskill. 

These resources make it easy for employees to learn at their own pace — even while balancing their day-to-day work.

Why startups should prioritize upskilling?

Upskilling your team creates a trickle-down effect. When your people know what they’re doing, your entire organization benefits. 

It also helps your startup shine above the rest. (Your customers will definitely notice a team that goes above and beyond for them!)

As Severine Diaz, General Manager of Beaches of Normandy Tours, says …  

“Our ongoing education makes us stand out. By investing in our team’s learning, we provide high-quality and authentic tours that our passengers love.”

Let’s take a closer look at some ways upskilling can help your startup succeed.

1. Close the skills gap 

A skills gap can hold your startup back. 

When employees lack the skills they need to drive innovation or keep up with industry trends, it can slow down growth. Upskilling helps close these gaps. 

For example, if you run an e-commerce startup, you might need well-versed employees in digital marketing and data analysis. Offering continuous training programs in these areas helps your team stay up to date with any relevant skills they’ll need to help your startup thrive.

The good news?

Most employees appreciate their company’s upskilling training options. In fact, 71% of employees are either satisfied or very satisfied with their company’s reskilling and upskilling courses. So don’t be afraid of getting it wrong!

2. Enhance employee career advancement and job satisfaction

Upskilling is a win-win. It gives employees a clear path to career advancement and encourages higher job satisfaction and retention. In fact, one of the top reasons organizations focus on upskilling is to reduce external hiring.

Employees who feel like learning and growing in their roles may feel more motivated to stay with your startup long-term. 

For example, imagine you have a telehealth startup that offers prescriptions like Zepbound online. In the sector you’re in, it’s important to make sure your team stays updated on industry regulations. Invest in leadership and industry-specific training, such as the latest telehealth compliance and prescription guidelines that nutritionists must adhere to. 

When employees learn more, give them more responsibilities. 

That might be leading the next team meeting or overseeing your next product campaign. As they take on new challenges and expand their skill sets, they’ll feel more invested in the company and motivated to contribute to its growth. 

3. Maximize the return on investment (ROI)

Prioritizing upskilling is an investment in your startup’s future. When you provide your team with the tools to improve their skills, your employees are more likely to show an increase in productivity and performance. 

For example, imagine your startup’s marketing team taking a course on link-building strategies for authority building. They can apply these skills immediately to start building high-quality backlinks that boost your site’s SEO. 

The result? Increased organic traffic, stronger brand authority, and higher ROI.

4. Foster a culture of continuous learning and adaptability

Startups need to be agile. 

Upskilling helps create a culture of continuous learning — where employees are always improving and adapting to industry changes. For instance, if your startup’s product team stays up-to-date with the latest software tools, they can adopt new technology quickly and efficiently. 

This makes it easier for your startup to pivot when necessary when it comes to market changes or product innovation goals.

How to implement upskilling in startups?

To implement upskilling successfully, follow these practical steps:

1. Create a learning plan. Tailor your upskilling learning plan to each employee’s current role and career development goals. A personalized learning path helps employees grow and stay engaged with your company’s core mission. Have your HR team lead this.

2. Offer relevant resources. Give access to online courses, training sessions, and other training programs that align with your startup’s needs. Make sure the resources focus on the skills that will have the biggest impact on your business.

3. Track progress. Monitor your upskilling programs’ success. Use tools like employee monitoring software to measure how effective your training efforts are. This software also helps you make adjustments as needed to align with your business goals. 

4. Measure the return on investment. Keep track of how upskilling impacts productivity, performance, and innovation. If your team is performing better and delivering higher results, you’ll know your investment is paying off.

Wrap up

Upskilling is essential if you want to run a competitive startup. 

With upskilling, your organization can:

1. Close the skills gap.

2. Enhance employee job satisfaction.

3. Increase ROI.

4. Stay agile.

Remember, upskilling isn’t a one-time fix. It’s an ongoing process of continuous learning and personal development. The more you invest in your employees’ growth, the more your startup will thrive.

PS: Help your startup team learn business skills for FREE in the most fun way! buildd is the app your organization needs to master marketing, product development, entrepreneurship. (And 100+ other skills.)

Download it now.